Common Transaction Security definition

Common Transaction Security means any Transaction Security which to the extent legally possible and subject to any Agreed Security Principles:
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Common Transaction Security means any Transaction Security that is created in favor of the Security Agent for the benefit of the Secured Parties in respect of the Secured Liabilities and that ranks (or is intended or purported to rank) in the order of priority contemplated in Section 2.2.
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Common Transaction Security is a reference to the Security constituted pursuant to this Debenture; and
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Examples of Common Transaction Security in a sentence

  • Each Hedge Counterparty, by its accession to this Agreement as a Hedge Counterparty, acknowledges receipt of notice of assignment pursuant to the applicable Transaction Security Documents in respect of the Common Transaction Security of the proceeds owing by that Hedge Counterparty to any Debtor pursuant to the Hedging Agreement(s) to which that Hedge Counterparty is a party.

  • The Common Security Agent may refrain from enforcing the Common Transaction Security until it receives such instructions.

  • Lender Cash Collateral), the Secured Creditors shall not have any independent power to enforce, or have recourse to, any of the Common Transaction Security or to exercise any rights or powers arising under the Transaction Security Documents except through the Security Agent.

  • The specific timing of the repayments is dependent on when the Common Transaction Security can be realised.

  • No Senior Finance Party may take any enforcement action against any Debtor in relation to any of the Senior Facility Liabilities or instruct the Common Security Agent to enforce the Common Transaction Security as a result of a Senior Loan Event of Default if that Senior Loan Event of Default is a Curable Default, until the expiry of the applicable Grace Period, and if, within the Grace Period, the Mezzanine Lenders have made the necessary Cure Payment to remedy that Senior Loan Event of Default.

  • The set-offs approved by the Administrator, which have been applied to arrive at the determined amount of the secured debt, have been described in section 14.14 of the Restructuring Programme.On the basis of the Restructuring Programme, the realisation value of the Common Transaction Security does not secure the full amount of the outstanding Secured Obligations, meaning that a part of the Notes Liabilities are qualified as unsecured restructuring debt (the "Unsecured Notes Liabilities").

  • The Notes Liabilities secured by the Common Transaction Security are hereinafter referred to as "Secured Notes Liabilities".

  • The Common Security Agent is not obliged, but may if required by the Transaction Security Documents, to hold in its own possession any Common Transaction Security Documents, title deeds or other document in connection with any asset over which security is intended to be created in connection with the Common Transaction Security Documents.

  • Subject to the restrictions summarised below in “—Restriction on Senior Finance Party Enforcement Action”, the Instructing Group (acting through the relevant facility agent) may, pursuant to the Intercreditor Agreement, give the Common Security Agent instructions as it sees fit with respect to enforcement of any Security created or expressed to be created pursuant to any Common Security Document (the Common Transaction Security) upon the Common Transaction Security becoming enforceable.

  • Each of the Credit Parties hereby waives and releases, to the fullest extent permitted by law, any claims that it may have against the Administrative Agent or any of the Lead Arrangers with respect to any breach or alleged breach of agency or fiduciary duty.


More Definitions of Common Transaction Security

Common Transaction Security means the Security created or evidenced or expressed to be created or evidenced under or pursuant to the Common Transaction Security Documents.
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Related to Common Transaction Security

  • Transaction Security means the Security created or expressed to be created in favour of the Security Agent pursuant to the Transaction Security Documents.

  • Limited Condition Transaction means any Acquisition Transaction or any other acquisition or Investment permitted by this Agreement, in each case whose consummation is not conditioned on the availability of, or on obtaining, third party financing.

  • Transaction Security Documents means each of the documents listed as being a Transaction Security Document in paragraph 2(e) of Part I of Schedule 2 (Conditions Precedent) of the 2009 Financing Agreement and any document required to be delivered to the Administrative Agent under paragraph 3(d) of Part II of Schedule 2 (Conditions Precedent) of the 2009 Financing Agreement together with any other document entered into by any Obligor creating or expressed to create any Security over all or any part of its assets in respect of the obligations of any of the Obligors under any of the Finance Documents (and any other Debt Documents).

  • Acquisition Transaction means any transaction involving:

  • Corporation Securities means (i) shares of Common Stock, (ii) shares of Preferred Stock (other than preferred stock described in Section 1504(a)(4) of the Code), (iii) warrants, rights, or options (including options within the meaning of Treasury Regulation § 1.382-2T(h)(4)(v)) to purchase stock of the Corporation, and (iv) any other interest that would be treated as “stock” of the Corporation pursuant to Treasury Regulation § 1.382-2T(f)(18).

  • Securitization Transaction Any transaction involving either (1) a sale or other transfer of some or all of the Mortgage Loans directly or indirectly to an issuing entity in connection with an issuance of publicly offered or privately placed, rated or unrated mortgage-backed securities or (2) an issuance of publicly offered or privately placed, rated or unrated securities, the payments on which are determined primarily by reference to one or more portfolios of residential mortgage loans consisting, in whole or in part, of some or all of the Mortgage Loans.